GOVERNMENT TO SPEND $600,000 ON ADVERTISING ARMENIA ON CNN AND EURONEWS

The Armenian government plans to spend thousands of US Dollars this year to advertise the country as an attractive tourist destination and especially its winter resort town Tsakhkadzor, on CNN and Euronews. Mekhak Apresian, head of a department at the trade and economic development ministry, dealing with tourism, told Armenpress that the government will release to this end 180 million Drams (some $600,000), as much as it did for 2007. Also a resort town of Jermuk in the Vayots Dzor province, where the eponymous mineral water is produced, has now a cable road. Its construction was launched in late April of 2007. The government released 1.3 billion Drams from its reserve funds to that end. The cable road is 1000 meter long. The cable road is to give a push to tourism development and make the town more attractive for holiday-makers not only in summer, but also in winter. Mekhak Apresian told Armenpress that the cable road will be officially opened in mid-January.

IFAD to provide $12 million for credit to micro-enterprises in Armenia [attachment=2789:IFAD.gif]

The UN International Fund for Agricultural Development (IFAD) will allocate more than $12 million for crediting of Armenian micro-enterprises, which have a great potential for growth, Mediamax reports.

Under the program of ensuring the entry of farmers into market IFAD will provide credits to those micro-enterprises, which do not correspond to the accepted requirements for receiving bank credits.

IFAD will allocate $11.9 million in the form of credit and $500 thousand as a grant.

The contenders for credit must prove that their enterprises are capable to ensure stable growth. Preference will be given to programs with women’s participation.